Russia’s biggest bank eyes Islamic finance as it opens Abu Dhabi office
The largest commercial bank in Russia, Central and Eastern Europe is on course to open an office in Abu Dhabi by the end of this year. Sberbank told Salaam Gateway Islamic finance is a key part of its offering in the region.
Sberbank is looking to promote investment activity by implementing its clients’ projects in both conventional and Islamic finance through cooperation with funds, financial institutions and other bodies in the Middle East.
In late September, the state-owned bank signed an agreement with Abu Dhabi sovereign investor Mubadala Investment Company to “explore opportunities of mutual benefits”.
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